5 minute summaries
1 quote, 3 ideas & 1 question from each episode
__________
16 Jun 2021
5hr 4mins
FEATURING
Quote
"You can never cross the ocean unless you have the courage to lose sight of the shore"
Ideas
1
You want to build a system that is self correcting after problems, as it's almost impossible to avoid many problems.
In general, the system we live in is bad at avoiding problematic cases. We almost completely eradicated the human population twice in the twentieth century with nuclear weapons.
It becomes not about whether we can avoid problematic cases, but whether or not the problems caused can be resolved.
So the key question is how do we align the incentives over the long term of the system where all the actors within the system, when an event occurs that disrupts it, have an incentive to push it back to a healthy, productive and useful state.
Of course, at the same time, there are problems that there is no chance of fixing if made, so we have to do everything we can to minimize the chances of anyone committing those problems.
It becomes not about whether we can avoid problematic cases, but whether or not the problems caused can be resolved.
So the key question is how do we align the incentives over the long term of the system where all the actors within the system, when an event occurs that disrupts it, have an incentive to push it back to a healthy, productive and useful state.
Of course, at the same time, there are problems that there is no chance of fixing if made, so we have to do everything we can to minimize the chances of anyone committing those problems.
2
Nearly all men can stand adversity, but if you want to test a man's character, give him power.
So many people, when they have power and money, become unrestrained and can distort the reality around them as nobody can say no, ultimately leading to the corruption of their character and losing touch with reality.
The single best way to handle power is to surround yourself with activities that are utterly divorced from your reputation and status, things that keep you grounded. For me, the best things are animals and gardening, a donkey doesn't care if you're a billionaire or broke, it'll shit on you the same way.
The single best way to handle power is to surround yourself with activities that are utterly divorced from your reputation and status, things that keep you grounded. For me, the best things are animals and gardening, a donkey doesn't care if you're a billionaire or broke, it'll shit on you the same way.
3
Capitalism only pushes to think about maximizing the amount of resources you get today, without any punishment if you're compromising the future.
What we need to think about is how we can create future versions of ourselves in 2,100 and create a resource for that time period, where the name of the game is to balance both the resources for your future self and the resources with your current self.
Capitalism as an engine is okay, the problem is that it's mis-parameterised.
We have to inject long term incentives into the capitalist system & cryptocurrencies are currently the only economic system where it's actually possible.
Capitalism as an engine is okay, the problem is that it's mis-parameterised.
We have to inject long term incentives into the capitalist system & cryptocurrencies are currently the only economic system where it's actually possible.
Questions
1
Can you think of an activity to do that is divorced from your reputation and status?
What else is in the episode
1
Ethereum vs Bitcoin and the problem with Bitcoin
2
How the best leaders are felt but never seen
3
Cardano and it's vision for decentralized governance
Who is Charles Hoskinson?
1
The founder of Cardano and co-founder of Ethereum, which are both blockchain platforms. He originally wanted to be a mathematician and studied analytic number theory before becoming interested in cryptography.
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